The Markets
The falling Dollar and rising Bonds scenario is working out well. Revisit the Monday Market Update to read more about why it matters.
We’ll dig into the details of why this matters. But first, a special offer and Thanks to all of you - the readers.
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The Charts
Last Friday, US Dollar futures put in a potential topping candle after hitting the bull flag measured move price objective. This week, that topping candle is confirmed as prices move sharply lower. $DXY $DX1!
Meanwhile, $TLT Treasury bonds continue to climb, moving out of the quagmire near $90 and back over the 8-day MA, the 21-day MA, and a pivot area near $93. Next, it will need to deal with the 50 and 200-day MAs near $93.50.
These factors - falling dollar and falling rates/rising bonds - combined with seasonality and the average December market performance in a strong year like this one should provide a significant tailwind for stocks.
Here’s how the stock index charts and Bitcoin are holding up.
SPY
QQQ
IWM
DIA
BTCUSD
Once again, thank you all for making this a fun, successful, and, most of all, useful endeavor. I truly hope you’re enjoying the charts and articles. And I’m grateful for your support.
Let’s finish 2024 with a bang!
Get 33% off an annual subscription when you gift a friend or family member a monthly subscription.🎁
Click this button to send your gift.
Then receive a gift from me!
It’s that simple. Give a paid monthly subscription and receive 33% of your annual plan. Then, once you send the gift, email me to receive your promo code to purchase, renew, or extend your annual subscription at the discounted rate.
🦃🦃 Happy Thanksgiving! 🦃🦃
The Disclosures
***This is NOT financial advice. This is NOT a recommendation to buy, sell, or trade any security. The content presented here is intended for educational purposes only.
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